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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests Historic Highs As Traders Prepare For Greenland Tariff War
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Key Points:
- Gold is heading towards the $4700 level amid rising geopolitical tensions.
- Silver soared 4.5% as gold/silver ratio declined below the 50 level.
- Platinum moved higher as demand for precious metals increased.
Gold
Gold rallied as traders reacted to Trump’s plan to impose tariffs on countries that do not support his efforts to take control of Greenland.
In case gold stays above the resistance at $4640 – $4650, it will head towards the $4800 level.
Silver
Silver tests new highs as gold/silver ratio pulled back below the psychologically important $50.00 level.
A move above the $95.00 level will open the way to the test of the key $100 level.
Platinum
Platinum gained some ground amid rising demand for precious metals. RSI remains in the moderate territory, so there is plenty of room to gain additional momentum in the near term.
A move above the $2450 level will push platinum towards the resistance at $2510 – $2530.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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